Answer: Master limited partnership
Explanation:
A master limited partnership also referred to as a MLP, is known as a limited partnership which is publicly traded on an exchange. A Master Limited Partnership tends to combine the tax benefits or advantages from a limited partnership with its liquidity that are the publicly traded securities such as stocks and bonds offer. A MLP tends to pays taxes like every other partnerships, thus by passing profits through to individual, and also accounting for these profits on owner's tax return.
Answer:
Weighted-average number of shares = 310,600
Explanation:
Given:
Total shares on January 1, 2017 = 291,000 (for 12 months)
Issue of new shares On May 1, 2017 = 29,400 (For 8 months)
Computation of Weighted-average number of shares:
Weighted-average number of shares = [291,000 × (12/12)] + [29,400 × (8/12) ]
Weighted-average number of shares = [291,000 + 19,600 ]
Weighted-average number of shares = [310,600]
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Answer:
C. The termination of the firm's legal existence.
Explanation:
General partners are individuals, two or more , who come together to own a business and controls daily activities of the business. Each member has unlimited liability and their action can legally bind the activities of the business. They share profit and losses equally.
According to fact pattern 27-3, if the partners agree to dissolve one of their business line- equity lending as in the case above and the company's assets are shared among the partners, it would result in the termination of the firm's legal existence.
Once there is a breach by any of the partners as contained in the partnership agreement and the partner's asset shared, that is dissolution. The partnership business has therefore been terminated legally and cease to exit.
